LML4805 INSURANCE LAW EXAM LATEST 2026 WITH ACTUAL QUESTIONS AND CORRECT VERIFIED ANSWERS ALREADY GRADED A+ 100% GUARANTEED TO PASS COMPLETE STUDY GUIDE

LML4805 INSURANCE LAW EXAM LATEST
2026 WITH ACTUAL QUESTIONS AND
CORRECT VERIFIED ANSWERS ALREADY
GRADED A+ 100% GUARANTEED TO PASS
COMPLETE STUDY GUIDE



◉Rationale of Duty . Answer: No general duty to act or speak legally.


◉Insured . Answer: Party responsible for disclosing relevant
information.


◉Insurer . Answer: Party receiving disclosures and assessing risk.


◉Material Facts . Answer: Information affecting risk and insurance
terms.


◉Actual Knowledge . Answer: Facts known directly by the insured.


◉Constructive Knowledge . Answer: Facts that should have been known
by the insured.

, ◉Breach of Duty . Answer: Failure to disclose material facts; leads to
mala fides.


◉Mala Fides . Answer: Bad faith; grounds for insurer to avoid liability.


◉Voidable Policy . Answer: Policy can be canceled due to non-
disclosure.


◉Claims Denial . Answer: Insurer not liable for claims if duty breached.


◉Return of Premium . Answer: Insurer must refund premium if policy
voided.


◉Mutual and Federal v Oudtshoorn Municipality . Answer: Case
establishing duty of good faith in insurance.


◉Good Faith . Answer: Obligation to act honestly in insurance
contracts.


◉Utmost Good Faith . Answer: Standard of honesty required in
insurance dealings.